With the increasing measures being taken by companies to protect their data, finances, and overall security, the cybercriminals are also becoming more sophisticated and inventive. As a result, several new threats are emerging which will require us to be more vigilant and take proactive measures to be secure. Some of the predicted threats expected are: Ransomware attacks, Social engineering attacks, Internet of Things (IoT) attacks, Cloud-based attacks, Artificial intelligence (AI) attacks, etc.
In 2022 alone, cybercrime has increased significantly with organizational data breaches in India rising by 11%. While we see high profile breaches reported in the media, small business cybercrime incidents are significantly underreported, so the true scope of cybercrime in India may be far greater than that is reported on. Below we have listed the opinions of some of the leaded cybersecurity providers in India.
New Cybersecurity threats expected in 2023 and the safety measures suggested
Mr. Zakir Hussain, CEO, BD Software, “In the coming years, we can expect to see several new threats that will require us to be more vigilant about our safety. With the increasing use of technology and the rise of cybercrime, it is important that we take steps to protect ourselves from potential threats. It is essential that we take proactive steps such as using strong passwords and installing anti-virus software on our devices. Furthermore, it is important to practice good online security habits such as avoiding clicking on suspicious links or downloading unknown files. By taking these simple precautions, we can ensure a safer future for ourselves.”
Mr. Vishal Prakash Shah, Co-Founder & CEO of Synersoft Technologies Pvt. Ltd, “Ransomware attacks have become increasingly common in recent years, and this trend will likely continue. Moreover, as the number of Internet of Things (IoT) devices continues to grow, so does the risk of cyber attacks or IoT attacks. We anticipate the exploitation of extended networks of large enterprises in the form of their vendors and customers by means of supply chain attacks. They occur when hackers target third-party vendors that have access to a target company’s network. These attacks can take many forms, including phishing, pretexting, and baiting.”
Mr. Suresh G, Director, eCAPS Computers India Pvt Ltd, “Based on the current cybersecurity landscape, here are some potential cyber threats that could continue or emerge in 2023: Ransomware attacks; Social engineering attacks; Internet of Things (IoT) attacks; Cloud-based attacks; and Artificial intelligence (AI) attacks. Regarding preventive measures, I would suggest organizations – should keep software and security systems up-to-date; use strong passwords and two-factor authentication; be wary of suspicious emails and messages; limit access to sensitive data; regularly back up important data; and educate employees.”
Mr. Aman Thareja, Managing Director, Forcepoint India, “New cyber threats that businesses should be prepared for in 2023 are: Advanced Business Email Attacks; malware and Ransomware Threats; and Crypto Scams. Forcepoint is focused on helping customers modernize their architecture to a Secure Access Security Edge (SASE) framework and Zero Trust approach which is the only model to prevent these advanced attack methods. The Forcepoint ONE platform incorporates next-generation technologies such as Private Access to replace the need for VPN , Cloud Access Security Broker (CASB), Content Disarm and Reconstruction (CDR), Remote Browser Isolation (RBI) and Data Loss Prevention (DLP), that seamlessly work together to protect every business collaboration channel.”
New innovations and solutions expected to emerge in 2023 to protect data and finances!
Mr. Zakir Hussain of BD Software, “In 2023, we can expect to see new innovations and solutions that will help protect our data and finances from malicious attacks. We will likely see the emergence of new technologies like blockchain-based solutions, artificial intelligence-driven fraud detection systems and biometric authentication methods to ensure secure access to financial services.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Artificial Intelligence (AI) and Machine Learning (ML) have already been used extensively in cybersecurity to detect and prevent cyber-attacks. In 2023, we can expect to see more blockchain-based financial systems and applications being developed, which will help to protect against fraud and data breaches. We can anticipate a few more baby steps in Quantum cryptography. This technology uses the principles of quantum mechanics to encrypt data in a way that is virtually impossible to hack.”
Suresh G, Director, eCAPS, “Based on current trends and developments, here are some potential innovations and solutions that could emerge in 2023 to protect data and finances:
AI-powered security solutions; Quantum-resistant cryptography; Blockchain-based solutions; Zero-trust security models; and Biometric authentication.”
Mr. Aman Thareja of Forcepoint, “This year will see multiple innovations in the field of the Data Security, Blockchain, Remote User Access Protection and more. To address the protection of the data and finances, organizations need to gain a360 degree view of the critical data they hold and process, build a security framework that can protect data across the holistic Data Life Cycle, and deploy risk adaptive security technologies. As we are focusing on the Explicit Trust Model for device and Cloud, Data Security Posture Management (DSPM) is the latest innovation the industry will start hearing more of this year. AI/ML will be used for risk assessments to support data security by enabling greater visibility of data and user behavior, and the most advanced methods to prevent data loss and theft.”
Implication of increasing use of mobile devices and what special measures need to protect youselves
Mr. Zakir Hussain of BD Software, “The increasing use of mobile devices has revolutionized the way we consume information and services, but it has also made us more vulnerable to cyber-attacks. To protect yourself, first, you should set up strong passwords on your phone and avoid using the same password for every account. Second, make sure to turn off all unnecessary Bluetooth tethering. Lastly, ensure that any apps or programs on your phone are regularly updated and scan your browser history for any suspicious links.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “As more and more consumers go mobile, the security implications are significant. Mobile devices such as smartphones and tablets are often used for sensitive activities like banking, online shopping, and accessing social media accounts, which makes them prime targets for cybercriminals. I advise users to keep their devices up to date: Make sure your device’s operating system, apps, and security software are all up to date with the latest patches and updates. I also recommend using strong passwords and enabling two-factor authentication where possible. I strongly advise consumers to avoid using public wi-fi all the time.”
Enterprises are going more online and Work from Home has become a new normal. What are the threats in this regard and how organizations should protect themselves?
Mr. Zakir Hussain of BD Software, “With the shift to an online workplace and the transition to a Work from Home (WFH) environment, there is a greater risk of data breaches and cyber-attacks. Organizations need to take proactive steps to protect their data and ensure that their employees are working securely from home. This means implementing appropriate security measures such as multi-factor authentication, encryption, virtual private networks (VPNs), and secure remote access solutions. In addition, organizations should also invest in employee training on cyber security best practices and create policies for safe remote working.
Mr. Vishal Prakash Shah of Synersoft Technologies, “Today, enterprises have set Work From Home as a new normal. Remote computing and access to data from anywhere are now a necessity of every enterprise. Things get complicated when employees use their personal devices to access enterprise data while working from home. Enterprises are concerned about the risks of Data Leakage and Theft possibilities. The security system to protect the work from home use-cases must provide effortless access to enterprise data from anywhere, provide a facility to share data for collaboration, and rule out any possibility of Data Loss Leakage and Theft prevention. In my opinion, the enterprise must enforce Information Security and Data Protection Policies on work-from-home users’ devices. Moreover, they should allow access to enterprise data and applications only over the VPN from the users’ devices which are hardened with security patches and policies.”
How are Indian security solutions providers and consumers faring compared to global players!
Mr. Zakir Hussain of BD Software, “India is one of the fastest growing economies in the world and its security solutions industry is no exception. With global players like Cisco, IBM, Microsoft, and others entering the market, India is now home to some of the most advanced security solutions in the world.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Overall, the Indian security solutions market is poised for growth, and Indian companies are making significant progress. However, they still face stiff competition from global players, and there is a need for greater awareness and trust among Indian consumers. Indian security solutions providers are also expanding their offerings to include new and emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT).”
Mr. Suresh G, Director, eCAPS, “As consumers increasingly rely on mobile devices for their daily activities, there are several implications for security that consumers should be aware of. Here are some potential security risks and ways consumers can protect themselves: Mobile malware; phishing scams; unsecured public Wi-Fi; lost or stolen devices; privacy concerns; etc.
Overall, consumers should be aware of the potential security risks associated with mobile devices and take steps to protect themselves, such as using strong passwords, keeping their devices and apps up-to-date, and avoiding risky behaviors, like using unsecured public Wi-Fi or downloading apps from unknown sources.”
Mr. Aman Thareja, Managing Director, Forcepoint India, “If a solid BYOD strategy is not in place, organisations lose visibility of the activity BYOD users perform and the data they access and process, effectively creating a blind spot. Critical data handled by BYOD users may not be effectively secured leaving the door open data breach risks and other threats to the business. Risk reduction strategies should typically be looked at in pillars; visibility, access control, data protection and compliance. User access to corporate data stored on devices or in cloud applications must always be relevant to individual access levels, andbe safeguarded from malware and data loss risks. Access control, threat protection and data visibility tools are critical and can also help fulfil compliance obligations.”
What are your target segments (consumer, SME, enterprises, etc) and what new solutions your brand plans to launch in 2023?
Mr. Zakir Hussain of BD Software, “BD Software have alliances with Bitdefender, EndPoint Protector by CosoSys, Zecurion, Safetica, DECE – DLP & End Point Security; Chimpa, Scalefusion – MDM; ePrompto& IPM+ – Resource Monitoring, Security & Compliance; SafeDNS – Firewall & DNS Filtering; Peregrine – Security as a Service (SOC); Intranet SSL – Intranet SSL Security; Beehive – Payroll and HRMS. BD Software have also onboarded new brands in the last quarter: Phished – Phissing Simulation &Cybersecurity Training, Chimpa – Mobile device management and endpoint monitoring, Sendquick – An alert Management system with 2 Factor Authentication, and Wipeout- Data Shredder & Complete Deletion. Each of the brands are champions in their respective fields, and BD Software hope that Indian customers will benefit from their use.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Our target segment is the Small and Medium Enterprises sector of India in the verticals like manufacturing, healthcare, biotechnology, pharmaceuticals, engineering, consulting, BPO, KPO, architects, and the businesses that generate IPR in their digital assets or are bound by strict data protection agreements by the customers. We plan to launch AI/ML-driven solutions to cater to the requirements related to Insider Threat Mitigation. We plan to launch hybrid solutions (cloud with the agent) to achieve the objectives of Information Security and Data Protection more effectively.”
Mr. Aman Thareja of Forcepoint India, “Forcepoint India will predominantly be focussing on enterprise, mid-market and Government segments to bring best-in-class data-centric SASE solution to its customers. SASE, SSE, Integrated Cloud, weband data security are all available for customers to take advantage of. Technologies such as RBI (Remote Browser Isolation) which ensures safe web access, and CDR (Content Disarm andReconstruction) will be at the forefront. Technologies like Data Guard and Data diodes will help our nations critical infrastructure organizations.”
What are your USPs and how are your security solutions superior to your competitors?
Mr. Zakir Hussain of BD Software, “Our USPs are our commitment to customer service, our innovative security solutions, and our competitive pricing structure. Our solutions are superior because they are tailored to each customer’s unique needs and offer comprehensive protection from potential cyber threats. We also provide ongoing support and maintenance services to ensure that your systems remain up to date with the latest security protocols.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Our products and solutions are minimalistic and affordable. They are not cluttered with loads of features and do not require the integration of multiple discrete systems. That is our USP. For example, to standardize IT setup, one needs to integrate File Server, Firewall, Storage Device, Domain Controller, End Point Controls, Backup Solution, DLP Solution, and VPN Hardware. It makes it complex and expensive. We achieve all the functions as a single hardware and single software solution. Simple, Effective, Affordable, Dependable, and Scalable are the USPs interwoven in our products and solutions.”
Mr. Suresh G, Director, eCAPS, “To be unique in providing cybersecurity solutions to end customers, ECAPS could consider the following strategies: Tailored solutions; Innovative technology; Expertise and knowledge; Proactive approach; and Education and training.”
Mr. Aman Thareja of Forcepoint, “Forcepoint has been operating for 20 years and is pioneer in delivering the cyber security solutions. We are trusted by thousands of companies around the world – including enterprises, government agencies and critical infrastructure in India – to secure and protect hybrid workforces, networks, and data. We help customers modernize their security approach by moving away from yesterday’s reactive security model to a predictive security model leveraging an industry leading Zero-Trust security approach: Data-First Secure Access Service Edge (SASE) – secure Internet access, Risk based Cloud Protection and Private Applications access; Data Protection across a hybrid infrastructure –holistic data security across all business collaboration channels; and Advanced Threat Protection – Sandboxing, Content Disarm and Reconstruction (CDR) and Remote Browser Isolation (RBI) to address the Zero Day threats and steganography attacks.”
With Work From Home and online work becoming new normal, emerging new threats need new protective measures
Mr. Suresh G, Director, eCAPS, “The shift to online work and remote working has introduced new security challenges for organizations. Here are some of the threats organizations may face and steps they can take to protect themselves: Phishing and social engineering attacks; Weak passwords; Insecure remote access; Shadow IT; and Insider threats. Overall, organizations should prioritize security awareness and education, enforce strong security policies, and implement appropriate security controls and monitoring systems to protect against the unique security risks associated with online work and remote working.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Today, enterprises have set Work From Home as a new normal. Remote computing and access to data from anywhere are now a necessity of every enterprise. Things get complicated when employees use their personal devices to access enterprise data while working from home. Enterprises are concerned about the risks of Data Leakage and Theft possibilities. The security system to protect the work from home use-cases must provide effortless access to enterprise data from anywhere, provide a facility to share data for collaboration, and rule out any possibility of Data Loss Leakage and Theft prevention. In my opinion, the enterprise must enforce Information Security and Data Protection Policies on work-from-home users’ devices. Moreover, they should allow access to enterprise data and applications only over the VPN from the users’ devices which are hardened with security patches and policies.”
Mr. Aman Thareja of Forcepoint, “Due to Covid, IT and Security teams worked tirelessly in a short period of time moving resources to Cloud, restructuring security architecture to protect data moved to the cloud, newly deployed cloud platforms,a newly remote workforce and devices that needed to access resources from anywhere! The key areas of security that organisations need to focus on tohelp with securing a hybrid workforce and critical data, which will ultimately support compliance are: Enforce Zero Trust architecture to validate users and prevent unauthorized network access; Enforce Data Protection controls to prevent unauthorized data access and data loss; and Enforce Identity and Device posture management to protect company resources from riskyusers and devices.”
Q. How are Indian security solutions providers and consumers faring compared to global players?
Mr. Aman Thareja of Forcepoint, “Indian cyber security producers are quite young but flourishing at a rapid pace as they take advantage of the India government “Make In India” initiative. They are developing advanced features at an aggressive pace with fulfilment of customer needs and demands the number one priority. The concern which arises in enterprises is the sustainability, validation and quality of the products being produced. Global players are much more mature and reliable, have an existing customer base and innovate on a larger roadmap for existing and possible future business challenges. It’s an interest time in the industry and India economy as companies battle to keep up.”
Mr. Vishal Prakash Shah of Synersoft Technologies, “Overall, the Indian security solutions market is poised for growth, and Indian companies are making significant progress. However, they still face stiff competition from global players, and there is a need for greater awareness and trust among Indian consumers. Indian security solutions providers are also expanding their offerings to include new and emerging technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT).”
What are your plans for the next 3 years?
Mr. Zakir Hussain of BD Software, “We are focused on growing across India and will continue our plans for next 3 years. We see ourselves as 250+ team Member team spread across India with 8 Branch Offices. In the product portfolio we will keep adding solutions & services as the requirement keep maturing and growing in the country. We are also planning to start selling in few countries outside India and we are working on the details which will be announced soon.”
Mr. Vishal Prakash Shah, Co-Founder & CEO of Synersoft Technologies Pvt. Ltd We are investing in developing solutions and products that use Artificial Intelligence and Machine Learning and cope with ever-challenging Insider Threats and mitigate them. We are innovating our business models such that the solution is offered to SMEs on a pure OPEX basis.
Mr. Suresh G, Director, eCAPS, “Year 1: Building a Strong Foundation – develop a comprehensive cybersecurity strategy; Build a team of experts; Invest in technology; and
Establish partnerships. Year 2: Expanding the Business – expand the customer base;
Increase marketing efforts; and develop strategic alliances. Year 3: Maintaining Leadership – focus on innovation; strengthen partnerships; and expand globally. By following this plan, ECAPS could establish itself as a cybersecurity leader in the Indian market over the next three years. This would involve building a strong foundation, expanding the business, and maintaining leadership through ongoing innovation and strategic partnerships.”
Mr. Aman Thareja of Forcepoint, “Forcepoint will continue to invest significantly in security technology innovation and development and roadmap execution but will also be investing heavily in India. We are establishing a state-of-the-art Centre of Excellence Centre in Thane, Mumbai region which will be the epicentre for cutting-edge security technology development. Our sales and solutions team are available in various metros of India to discuss and design the best solutions for our customers. Forcepoint Technical Support Teams are also based in India to provide fast and efficient response to our customers.”
In a nutshell
To be safe organizations and individuals need to take proactive measures, instead of waiting till the security is breached and the valuable information is stolen or destroyed. Some the safety measures include: Keep your software and security systems up-to-date; use strong passwords and two-factor authentication; be wary of suspicious emails and messages; limit access to sensitive data; regularly back up important data; educate employees; etc.
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